>> t-mobile, selling an iron condor >> mike khouw? >> put spreads in cvs going into earnings. >> all right, that does it for us here at "options action." see you next friday, 5:00 p.m. eastern time "mad money" with jim cramer starts right now starts right now my mission is simple, to make you money i'm here to level the playing field for all investors. there is always a bull market somewhere. and i promise to help you find it "mad money" starts now hey, i'm cramer. welcome to "mad money," welcome to cramerica other people make friends i'm just trying to saver you mon on one of the worst days i've seen in my career so call me at 800-743-cnbc tweet me at jim cramer at least it's over i'm talking about this miserable month of april

where the dow plunged more than 1700 points and s&p plummeted 9% and the nasdaq it went down 13.3%. worst month since 2008 wow! normally april is a good month for the stock market the last april like this was in 2000 right after the dotcom peak. it was april 14 to 17, we had all of the junk that became public, more than 300 dotcom ipos and they dwindled to nothing. it sounds like the last couple of years i guess people must have been thinking there was someone saying putin means what he's been saying and there are other people that said just get me out. so today was a fitting coda to this month's relentless grind

and i've got to tell you, if you just look at today, dow losing 939 and s&p, 156 and 3.63% and then the nasdaq, was down 4.17%. that is adefinition of bad this is a market where you couldn't get excited to buy anything we went over for the trust and i said let's buyone stock. just one stock let's pick at something. and you know why we didn't want to be more aggressive? because once it was an old faang name that blew us out of the water and it was amazon. an its weakness is through the market the china's lockdown may cost them in lost sales and you had a real recipe for pain i get when amazon is in the penalty box. that is not a good quarter and i'm glad that we sold a lot. but apple is a different story once again i'm saying it own it, don't trade it

and i spent enough time with luca and tim cook, the ceo, to go through the numbers and know they were really great and i'm hoping that next week should be better i don't expect to a good day monday when you have a really horrible day like today sometimes you get a bounce and you must sell that bounce. all right. because then you're getting a better moment after europe closes, think about 11, 1130 we do have a break fewer big companies are reporting so that will allow us to catch our breath. in all of the reportings periods that i've done and you could think about it years before this week and i've been at this business for more than 40 years, this is the hardest i've seen. too many new companies and that are controversial. this next week will be easier. plus we have warren buffett who is likely to phase us with

positive comments and make us feel better on tomorrow on our network. if i know anything about biffet, he'll tell us to sell and it is a buying opportunity you may think, so what, he's rich and i'm not so let's just listen and with that mind let's go to our game plan and companies that i think -- remember, i don't want an up opening because you'll get crushed like one of those flies in a windshield outside of tallahassee where everywhere i went i had to use the windshield wipers since the peak in november, i've been saying you want profitable companies that make something return and return capital to shareholders and have reasonably priced stocks, and that is what we said at the investing club which has its meeting on thursday i'm doing it this different this time ure going to see a completely tortured, stubborn raw side of me this is not it, believe it or

not. anyway, my mantra has saved you aton of money which is why i love, what do i love i love the oil companies we have so many oils for the trust. it is great. massive variable dividend from them a new model of dividends and later on in the show, rick mon creath, he'll explain how his will continue to show great discipline, returning a dividend equal to 7%. and by the way, that is better than the cd you're running to or a treasury next we're looking at monies that have stole an raised their prices mosaic even as the business is booming, if mosaic sees pricing popping out and let's see. then jay powell may not have to raise interest rates as aggressive as he thought you could argue that jay has

crushed the stock market which is a major way that rich people spend money and i'm cognizant of that and he didn't even do anything yet. clorox needs to put up a descent number and that could send this tattered stock higher. they have to do something with the supplement business. tuesday morning we start with pfizer i hope they consider buying another drug company for making up for some looming patents. did you see that stock today this thing is getting crushed. good yield six times earnings. here is the 39s times earnings, i like estee lauder. they're betting the key asian markets will be closed thanks to covid. i'm betting on the ceo, he's tackled that problem and the best in the business want a former high fly, remember

this one, amd and they may very well report an upside, not that anybody cares. given how far the semiconductor stock has fallen from its highsine an inline quarter could send it flying, i'm itching to tell you to buy this stock we saw it down on monday and would be frozen from doing this now. we hear from airbnb and they'll have a decent set of numbers they are one of the few real winners from the period where there weren't too many good stocks i think it could tell a great story. but it is a high price to earnings multiple so it may not matter after the close. starbucks. howard schultz back, this time focused on the workers, not you. i think this quarter would be rough no matter what lockdown in china but management needs to say we'll take care of you

wednesday morning cvs, since they become a health company, i like that. i think a lot of people have rediscovered cvs and they like it and recognize it. i can't use the scanners moderna on me capitalizing they have so much money from the covid vaccine, they have to do something to broaden their portfolio. it can't be a one trick upon -- one trick upony. well chipotle is in the stores, yim is heavily franchised. i think chipotle is better tasting. if they're having better success finding workers. and on thursday it is conoco phillips i like conoco phillips, i think it will be fabulous with a natural balance of gas and crude. as i've said before, i'm always on the look out where commodity

are peaks because more coming online a logical place to look is a company called westra. just to be able to chase demand, an then the paper industry jaye powell, when you know we're getting to get inflationary control, if it hasn't peaked, it is your ball game. the most consistent erner for the week, it is pet health care. i can't believe how well this company is run spun off by pfizer a think the ceo will put up great numbers. in the down 3% that i expect here go for --. and thursday morning shop pie. online fulfillment for small and businesses and it is a company for all seasons but nobody believes me any more and even a great quarter might not be matter. i'm being a little cynical

remember i said airbnb has gone through it and the other is door dash tony shew. they like to drink and not pay through the nose but the standard is high so if door dash doesn't beat and it is a lookout below. a little raw and friday under armour and lulu is crushing them i'm going to listen. but lulu is a good tock to buy in the weakness. i like the oil pipelines and -- is down there in the gulf and looks good and finally we're going to have some fub, everything will interpret it as negative except for me because we'll be so far down it will look up to me. it is possible job number will have peaked to be covered during the worse days of the pandemic have started to let them go. go listen to the amazon call that is very good news for a

stock market that is terrified of inflation more on that later. do you know if putin didn't have nukes and china wasn't stupid enough to close down the country. you know what this market would look like. why is why it is difficult to leave it and bottom line, i'm so glad april is over. michael in arizona michael? >> caller: jimmy, how are you do ing. >> i don't know. i don't know this is a bad month. >> caller: try brutal. >> yeah. what's up. >> caller: i'll try to be as concise as possible. the stock has beaten estimates ten straight quarters and has impressive free cash flow and pe at 45 and forward pe low 70s just entered japan and brazil and australia and now access to a half a billion people, i think they're overfocused with the monthly average users which i

think is stabilized and actually is going to go up in the next 12 months. >> all right. >> caller: what is your take long-term on pinterest. >> i think that paypal should buy interest because when they walked away, the stock dropped 200 points i think a merger makes a ton of sense. they have to start margining you can't have all of these companies out there. it is too much like april 14th of 2000. bob in massachusetts >> caller: jim, i'm honored to talk to the best in the business. >> if i were the best, i would have told everyone to sell everything but i appreciate the comments. what is up. >> caller: but we are the goat of wall street >> really. thank you, man thank you. thank you. >> caller: you're welcome. it is my pleasure. i prefer and have invested into two best of the breed defense stocks over the last several

years and i'm up 26% on each >> that is nice. >> caller: i would like to know if you like either one or the other and they are lockheed martin, and northrop grumman. >> now i like your style and i like how much you've made. i know take. so what i do is i gravitate toward the guy that i like yim who runs lockheed martin i think lnt is a great company would you look at this and i'm supposed to have fun tonight. i'm so glad this miserable month of over. i think next week should be better i think the next few minutes will be better only because the month is over on mad tonight, warehouse had the strongest first quarter on record so could they continue to build profits. i'm checking in with the ceo and then elliott management has

site sights set on sun for do they need what it is needed for sustained growth and i'll get into the action. and is it time to adjust the covid strategy strategy i'm talking to an expert in the field. stay with cramer >> announcer: don't miss a second of "mad money." follow @jimcramer on twitter have a question? tweet cramer, #madtweets send jim an e-mail to madmoney@cnbc.com or give us a call at 1-800-743-cnbc ado dmeyething he tmaon.cnbc.com. your shipping manager left to “find themself.” leaving you lost. you need to hire.

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with no line activation fees or term contracts... saving you up to $500 a year. and it's only available to comcast business internet customers. so boost your bottom line by switching today. comcast business. powering possibilities.™ my fellow xfinity customers. hi tim. the biggest week in entertainment is almost here. watchathon week presented by xfinity rewards. with free access to stranger things from netflix. the boys from prime video. hbo max, starz, and peacock. just say watchathon into your voice remote and get ready to watch. i love you. i love you. i love you all. as everybody seemingly gets dragged down by inflation. we've seen fewer and fewer coop damn persistent winners but they

do exist they are the companies that benefit from the inflation take warehouser, the real estate investment trust that owns vast swath of timberland. while sky high lumber prices are a major boom for the warehouse company is doing so well that they paid out not one, but two special zdividend since last fall wh which is why it hit a 52-week high today the company reported just another terrific quarter the stock ended up coming down because there was an ugly tape but at one point it roared let's check in with the president of warehouser to get a better read on what he's said going forward. i have to tell you, devin, i'm so excited, i found a stock that went up today and i have to say, you are, this company is the

company that is meant for this moment that is why i was so glad to have you on. could you please explain to people why whetn things go wron with inflation, the greatest thing to own is land and lumber. because it is working, isn't it. >> yeah, well, first of all, thanks for having me back on first ever all, i'll say i'm proud of the team and delivered an excellent quarter and that is all about the execution and the work that my colleagues are doing all across the company in terms of how we're set up for inflation, you know certainly historically if you look at places that you want to be invested in, at a higher inflationary environment, land in particular timber land is a place that has delivered in that kind of environment and we'll look to that see over time as well but regardless of what is going on with inflation, we're

certainly seeing a really strong business environment for our business across all three of our business segments. so really well sit up for the year. >> people may not understand how huge your business is and the pacific. i mean, when you read through your conference call, japan, china, everyone needs what you have we obviously are the most bountiful other than canada with wood tell us, tell people how you are the cargo that goes back the other way. >> yeah, that is right, jim. and just for perspective, we are the largest private owner of timber lands in north america. we have 11 million acres in the u.s. and manage another 14 million acres across canada under long-term license aagreements. we manage a lot of lumber and other wood products. as we think about the u.s., that is a big market for us but we send a fair amount of our

wood to asia, japan and the market needs a lot of wood and we've been sending a pretty fair amount of our high quality logs to the japanese market for decades. an that is continued to be a very strong market for us. and i think with some of the things that are going on, globally and some of the impacts we're seeing, the global fiber supply, we've got a really good opportunity to continue to even grow that business in this environment. so really good strong expert business for us. it plays well into our footprint and our export opportunities and what we could do for our customers across the globe. >> i want people to know when they look at what the regular yield is, that is not what is happening. you are paying some big dividends to shareholders. >> yeah, that is right, jim. and so we came out with a new dividend structure here over the last couple of years and it is really premised on returning the vast majority of our cash flow back to shareholders so we've committed to returning 75% to 80% of our funds

available for distribution back to shareholders and that comes via a quarterly dividend which by the way we did raise in the first quarter 5.9% but the additional piece is really through a supplemental dividend as you mentioned, we paid out an interim supplemental dividend last fall and here in q1 when you look at that dividend yield on the ticker, that doesn't reflect the magnitude of the cash flow that we're returning back to shareholders so it really included both the base and the supplemental. and by the way, we did return another $121 million back to shareholders through share repurchase which is also part of ow program. >> now one thing i want to people no know is that you are the most sustainable company on earth. it isn't like your spoiling the land and nothing comes back. i want people to know what devin's stock does to make it so you're company is the best possible steward of north america. >> there is no question about

it, jim. and this goes back to the company. we plant more than 130 to 150 trees every year we harvest less than 2% of our overall acreage. so the way that we manage our land base is really about making sure that we do it sustainably so we could continue to have those harvests for hundreds of years to come. i'll note, just by virtue of what we do, the way we manage forest and the wood products that we manufacture when sequester co2, we are the best carbon story around, i would say bar none we sequester around 32 million metric tons of co2 through our forests and our wood products. so i think you would be hard presses to find a bet esg story than warehouser. >> i know, a plant a lot trees i planted 20,000 in oregon you have a big year in oregon and i keep bumping into you as the guy that does the most to preserve this planet not kidding.

kevin is president of wire houser and absolutely right what devin said about works it is master work and it is mansions and land and trees that is the only thing that does well in high inflation times. "mad money" is back after the break. knock knock. the barbarians are at the gate find out why this billionaire might soon be singing oh, canada next

♪ ♪ i came, i saw, i conquered. (all): hail, caesar! pssst caesar! julius! dude, you should really check in with your team on ringcentral.

i was thinking like... oh hi, caesar. we were just talking about you. ha ha ha. yeah, you should probably get out of here. not good. ♪ ♪ ♪ ringcentral ♪ look every night i tell you there is a bull market somewhere and for months now the bulls have been running in the energy space. even as the border average gets pole axed. so far the etf, is up 35% and only other sector that is positive in territories is

consumer staples and that is up less than 1% oil and gas have surged to multi-year highs, some energy stocks have performed better tonight i want to talk about someone who played a lot of catch up it is called -- yesterday morning we learned that one of the hedge funds has built a large stake in sun corp. and [ inaudible ] or view of the current management team and new capital return strategy and i'm with all of these things and a strategic review of some of the none core business, and they want a huge shake up when they want something, sm get it or something equally valuable they bought a bunch of worthless, borderline worthless argentina bonds and then the government defaulted and then seized a ship from the navy to make them pay. they push around entire countries because they have such a good track record, sun corp

stocks soared, about 12%, and given that back today. and as long as you believe that the price of oil could stay elevates, bet sun corp has a lot more room to run and it is elevated and i'll tell you why first how they make their money. it is an integrated company like chevon or exxon. they have pipelines an gas stations but the bulk of the oil comes if the alberta oil sands now for a long time nobody really cared about these because it is expensive to extract the oil from sand and not too environmental but now that the price of crude has surge, sun corp to deliver from spectacular earning growth and they have great leverage and the stock market is affair of that fact. now it is up roughly 40% year-to-date so now come elliott wants to

shake things up now. elliott's argument is it should be doing better given the monster move in oil. let this picture tell a word look at this chart it shows the cumulative total return if of the large cap oil producers in north america since may 2nd of 2019 which is with the current ceo mark little took over during this period, sun corp has been the second worst performer in the group while all of the other canadian oil, look at these figures. wow, i mean that is incredible that is real under-performance so why is sun core behind his rivals it is been dragged down by poor execution and a terrible safety record on the execution force, they have higher production costs than its peers and they haven't been able to lower of the cost by competitors and --

[ inaudible ] production like tar oil grew production at double-digit clip. plus they're total production has come in at our below the low end of the forecast in every year since 2019. at the very left management does have a prediction problem. more importantly sun core has a disastrous safety report since 2014 they've had 12 fatality as mong employees and contractors versus four for canadian and one for imperial oil, the other players and they had a refinery fire a month ago and two separate incidents in january and february that resulted in two fatalities this is not a well run enterprise which raises the question, how does elliott want to fim it. first they want to shake up the board to bring up real expertise in the energy industry and elliott hasn't not -- so

there won't be an immediate proximaty fight. but they're asking lightly they want the now board to quote, ensure the right management in place to deliver excellence in operating and safety performance i think that is a very diplomatic way of saying for the ceo. always have to be clear because they've gotten -- taken -- [ inaudible ] and safety overhaul because they think that is the only way they could earn back of the trist of investors speaking of cash, elliott wants to increase their capital returns right now the company takes remaining cash flow after dividends and cash ex and they buy stock and pay down debt. elliott thinks the balance sheet is fine so he would like to see 80% to go to buy backs they should explore opportunities to unlock the

value of high multiple assets including strategic review of retail tabulation, they should tell out the retail business in north atlantic so off shore is in north atlantic so they could focus on what they do best. we know this strategy works because -- sold off their retail operations among the refiners. yesterday afternoon sun core had a boilerplate statements how they take everything into consideration and they're willing tengage in good faith i think it jumped 12% yesterday because of -- here is free advice, work with these guys don't fight them they generally work out well for shareholders even if it might make you really uncomfortable. in the end, i think sun corp's futs you are is less about the activist and more where the price of crude is headed if you think it is elevated this is a terrific stock because it

could generate tremendous earnings growth but if you believe oil will peak son, this stock is going to be dog and it won't matter what changes they make bottom line, they have a relatively cheap stock and they're playing the 6% yield i like the stock here but i see signs that oil is repeating. let's go to frank in ohio. >> caller: i have this tock now for many years now and it is very good to me. i reinvested dividends but i wan to purchase more stock on it the company is dominion energy thank you. >> i like them very much they're a good company i have nothing to say about them other than good things and i wish they would come back on and i haven't seen them in ages and i don't get that to ron in my home state of new jersey >> hi jim, booyah. >> booyah. >> caller: and thank you for

your assistance and i watch your show every night. >> yes, thank you: join the club go ahead >> caller: yeah, i'm a member of the club a few weeks ago you talked about high peak energy and every night or every day it went up. but now it seems to be going down and i wanted to see what you think about it. >> it sells at six times earnings and it is well run company and back to where i recommended if, if you want to buy some put, put half on because the market could be horrible on monday because the sellers today are so motivated that they know something i believe stuff like that. i like sun corp but i if see signs oil is peaking weevil be able to reconvene. there is much more is a head how to reveal it and what needs to be done with dr. michael mina and it looks like chief powell caught a break from amazon

i'm showcasing the development and all of your calls in rapid fire in tonight's edition of "the lightning round." so stay with cramer.

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i know it feels like we've more or less got covid under control. but we can't afford to take our eyes off the ball when it comes to the pandemic. daily case counts are and kufrntly rising. and all but six states and up more than 50% from just two weeks ago, i tested this morning and it is like the old days. the vice president has covid ozzy osborne has covid a major company ceo has covid. and the nature of the latest omicron subvariant, the

mortality rate keeps falling but still covid could be with us forever if we don't handle things correctly and tonight we want to check back with one of the most trusted sources of our show and that is dr. michael mina, the epidemiologist for e-med, that is a health care start-up that offers an at-home covid test where you could get your results within minutes and you could set up with a telemedicine appointment if you test positive, which means you could not go to a clinic potentially infecting others welcome to "mad money." is it true that there are hundreds of thousands of a drug called paxlovid that is saving lives and are sitting at pharmacies and people who need them aren't getting them. >> it is certainly true that we have now despite a limited supply, we have an abundance of the doses sitting at pharmacies.

meanwhile we have thousands of people continuing to die every week from covid. and so that tells us that there is a problem with americans getting access to these life-saving treatments on time >> would any of these people have to die? >> well we know that the treatments themselves have, for people that could get them, they have a 90% efficacy to prevent hospitalizations so nine out of ten people who end up in the hospital, if they were treated, would not have ended up going to the hospital and certainly not dying. so we know that these treatments are being underutilized. we know that people are dying unnecessarily at the moment because the treatments are not getting to where they need to be. >> so tell our viewers what should happen and what can happen if you take advantage of people like you who know this system really well, were really accurate about all of the things that you told me, dead right

since the pandemic what could they do to make it so they are one of the people that doesn't go to the hospital >> look, we know that people don't want to leave their home, especially when their their sick they don't what spend the time to go and get tested at a medic medical clinic or v.a. hospital so they're waiting so the best thing that people could do and frankly the government could do is to develop an at-home test to treat program. it is something that we've done at e-med where you could actually use an e-med enabled test at home and if you're positive, you get immediately brought through a telemedicine visit and you get a prescription all for free and we don't ask people to pay for any of that. they pay for the test up front or in most cases states and governors have been purchasing it for their constituents and this to me is the most accessible way for individuals

to be able to get treated on time, by taking the test the morning you wake up with scratchy throat, you take a test and it's positive and you get brought through a telemedicine visit automatically and get prescribed like the pfizer or merck drug in under an hour you could be on your treatment in three hours from the time you wake up. this is how we really change the tides of this pandemic we make this a virus that we start beating. but even if you're vulnerable, you don't need to worry as much if you know that you have ready access to these life-saving medicines. >> well right now, you get all baffled and you debit know where to go and you end up being at a drugstore. you infect everybody and is it starts all over again. this is insane what is happening. >> it is we have the treatment so we know, my own family has called me up saying i'm covid positive, my 96-year-old grandmother was in a nursing home and his

physicians didn't know how to treat him, how to even order the drug and there is just so much confusion, so what we've trying to do at e-med is stream line it so anyone regardless of how literate or not literate you are in the medical space can figure it out and immediately get tied into telemedicine and treatment without having to be an expert on knowing what websites to go to, that the government hosts to tell you where exactly the drugs are. and all of these things are ch are creating major barriers because there is so much confusion, not just amongst the individuals but amongst the prescribing physicians, too. but how to deal with their covid positive patients. >> it is breathtaking because we do have this -- we have this pfizer medicine in december. there has been -- the total disconnect until you've come along with what you have dr. michael min saw, chief

science officer of e-med who told me what would happen with this pandemic and was 100% right and we have to solve this and he could help do it "mad money" is back after the break. >> coming up next. >> let's make money together what do we got. >> cramers is bringing the thunder and answering your burning questions in today's edition of "the lightning round. alright, so...cordless headphones, you can watch movies through your phone? and y'all got electric cars? yeah. the future is crunk! (laughs) anything else you wanna know? is the hype too much? am i ready? i can't tell you everything. but if you want to make history, you gotta call your own shots.

we going to the league! ♪ ♪ ♪ ♪ with a bit more thought we can all do our part to keep plastic out of the ocean.

> "the lightning round" is sponsored by td ameritrade it is time it is time for "the lightning

round. and then "the lightning round" is over. are you ready skee daddy peggy in georgia >> caller: hi jim. i was calling about johnson control and i used to watch it when i was a teenager and now it is down in the 60s and i want to know if it is still -- >> it is it is very cheap it is just too low tracy. >> caller: booyah. shipper star bolt dividend has pushed the dividend 24%. so two questions, first given the [ inaudible ] consider starbucks dividend remain even in the middle of -- >> the way -- look, the way this stock is prices, the dividend will be kit. i don't know it is that the case i call it too good to be true. to bob in maryland >> thank you, mr. cramer i have toel you up front, this

senior would came from a blue-collar background and became a professor and my wife and i died with multi-generational wealth because of your great leadership. >> thank you thank you very much. >> caller: i'm proud to be a club member. what do you think of principal financial group, tfg, now that it is broken away from wells fargo completed. >> i think that they're okay, guys i don't think they'll set the world on fire but they are okay. your set me on fire. your comments will get me through the whole weekend. thank you. to scott in california. >> caller: booyah, jim how are you doing? >> how are you doing >> i've been watching pit knee bows for the last five years, i don't get it are they dead or alive. >> that guy laudenback, he's a smart guy but everything he tries to seems to fail and i

know you see a spike in the stock, i'm not a disbeliever, but it ain't working how about aimos, in california. >> caller: hi, jim, thanks for taking my call i appreciate it. >> of course. >> caller: i bought accumulated around 4,000 shares of pacific gas and electric, pcg and i was moving forward what your opinion was. >> i want you to cut it in half i don't like them. i like the yielders and the a.p. and th and the dominions and move on with that money. alex in washington alex alex, speak to me. alex seems to have suffered from the same thing that is happening with the stock market. should we go maybe to -- is it steven in texas. >> caller: joseph in california. the company ticker is oln. >> which one >> caller: oln.

>> oh, my friend frank mitch who is a big jets fan put out a piece of it and i'm going to tell you to stick with tell taboo. now maybe we go to steve in texas. i'm a little confused here, steven >> caller: hi, jim the stld hole or right calls? >> well i don't like the right calls because then you cap your upside they're good and new corp is better they have had a very good run. marsha in washington >> caller: thank you, jim. booyah hi, i'm interested in -- i'm interested in the rite aid stocks. >> you have to go bet of breed and they're cvs. we do not buy spak, we buy best of breed and that, ladies and gentlemen, is the conclusion of "the

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fed chief jay powell caught his first break. the company that has done more to keep prices down than any other aside from costco. we're talking about amazon after a period of rapid hiring, stock got hammered today down 14 bers because there is a lot of negative talk on the conference call. for many investors it has to prove they could get the costs under control. amazon may have to automate pretty aggressively. but they have to figure out how to down side a accident chunk of the 1.6 million employees. what does that have to do with jay powell with a company with that many workers lay off, the reverberations is -- because the company is still signing up millions of users for prime. we rang the register on a ton of amazon for the trust not long ago but we'll buy it back if if goes much lower.

down 20% is where i'm looking. it could get there too believe me if which we get down here, i'll switch directions from what i saw out here but to get pack on track, powell is getting a break because amazon is a bellwether now that covid is no longer such a big threat to the work force, they could staff down. i don't think the cfo, who is so smart, would have even bothered to mention the term right sizing on the conference call if he wasn't planning on sizable layoffs. amazon like many other companies have to bring in ploem employees to cope with the pandemic in case someone got sick. they could afford to let them go without jeopardizing nur delivery times i don't know how many other firms deliberately overstaffed to meet demand when covid was raging but i'm sure amazon is not alone. and think about all of the truck drivers that now could be let go the warehouses that could

contracts don't need to be renewed. these are -- these were all in short supply but maybe the prices will come down too it is not all doom and gloom out there. even if the nasdaq had the worst month since 2008 and people are giving up. what i said to the people today, come on, guys. and here is where powell gets his break. amazon is not just a disruptive force in american retail it is also been a disruptive force in the labor market with its incredibly aggressive hiring taking from all over the country. they've made in part the labor so tight if the company now has too many people, that could relieve a ton of the tightness in the labor market, meaning a peak in wage inflation. amazon has to think there is a hiring peak and that could be a very big deal for the fed. you you never want to celebrate layoffs and employees over the country can't find enough staff. if big companies lay people off

there is a new pool of available talent talent because omicron is no longer a threat. a lot of people call it the great resignation. maybe we should call it the great duplication because it is exactly what companies like amazon needed to get through the worst days of the pandemic i always like to root for the workers, by the way. i was a member of a two different unions but if we see more layoffs that means fed won't have to raise interest rates as aggressively which would result in less damage to the economy and believe it or not, after today, the stock market but in the median term we need so many different things to go right for powell to engineer a soft landing. i think amazon talk of right sizing the work force is what the fed needs to help start hitting the brakes on wage inflation. in the end, covid was a job suck that job suck is ending. and if what is happening at amazon holds true across the rest of the economy, then we might be a lot closer to killing inflation than you might think

and maybe the stock market will stop say down 20% where they don't have to be as hard on it because a lot of people will spend less any way i like to say there is a bull market somewhere i like to try to on the eve of the annual the stock market, is in turmoil. i'm shepherd smith, this is the news on cnbc. >> the dow drops more than 900 points, markets plunge. andrew sorkin live, time running out in mariupol, the